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Globalstar Prices Initial Public Offering Of Common Stock
Milpitas CA (SPX) Nov 03, 2006 Globalstar, Inc has priced its initial public offering of 7,500,000 shares (increased from 6,500,000) of common stock at $17.00 per share. All of the shares are being offered by Globalstar, Inc. The common stock will begin trading today on the NASDAQ Global Select Market under the symbol "GSAT." The CUSIP number for the common stock is 378 973 4 08. Globalstar intends to use substantially all the net proceeds from this offering to fund in part the procurement and launch of its second-generation satellite constellation and related upgrades to its gateways and other ground facilities. Wachovia Capital Markets, LLC and J.P. Morgan Securities Inc. are serving as joint bookrunners of the offering. Jefferies and Company is serving as co-manager of the offering. Globalstar has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares to cover over-allotments, if any. The public offering is being made by means of a prospectus. Copies may be obtained from Wachovia Capital Markets, LLC, 375 Park Avenue, NY 10152 via email at [email protected] or from J.P. Morgan Securities Inc. at J.P. Morgan Securities Inc., Prospectus Library, 4 Metrotech Center, CS Level Print Shop, Brooklyn, NY. 11224, tele: 718-242-8002. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in a state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Community Email This Article Comment On This Article Related Links Globalstar The latest information about the Commercial Satellite Industry Satellite Constellation - multiple satellite deployments in LEO and Beyond
Iridium Launches Product And Service Offering In Brazil Through Alliance With Omnilink
Bethesda MD (PRN) Oct 30, 2006Iridium Satellite announces it is officially launching delivery of its products and services in Brazil through an alliance with OmniLink of Sao Paulo, Brazil. Anatel, the Brazilian Telecommunications Agency, has confirmed operational authority for the full suite of Iridium products and services throughout Brazil. |
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